2006 New York Code - Unclaimed Life Insurance Corporation Moneys.

 
    §  700. Unclaimed life insurance corporation moneys.  1. The following
  unclaimed property held or owing by life insurance corporations shall be
  deemed abandoned property:
    (a) Any moneys held or owing by any life insurance  corporation  which
  shall  have  remained unclaimed for three years by the person or persons
  appearing to be entitled thereto under matured life  insurance  policies
  on  the  endowment  plan  and  which  are  payable  to  any person whose
  last-known address, according to the  records  of  the  corporation,  is
  within this state.
    (b)  Any  moneys held or owing by any life insurance corporation which
  are payable under other kinds of life insurance policies to  any  person
  whose  last-known  address, according to the records of the corporation,
  is within this state, where the insured, if living, would, prior to  the
  thirty-first  day  of  December  next  preceding  the report required by
  section seven hundred one, have attained  the  limiting  age  under  the
  mortality table on which the reserves are based, exclusive of
    (i) any policy which has within three years been assigned, readjusted,
  kept in force by payment of premium, reinstated or subjected to loan, or
    (ii)  any  policy  with  respect to which such corporation has on file
  written evidence received within three years that the person or  persons
  apparently entitled to claim thereunder have knowledge thereof.
    (c)  Any moneys held or owing by any life insurance corporation due to
  beneficiaries or other persons entitled thereto under  policies  on  the
  lives  of  persons who have died where the last-known address, according
  to the records of the corporation, of the person or persons appearing to
  be entitled thereto is  within  this  state,  which  moneys  shall  have
  remained  unclaimed  by the person or persons entitled thereto for three
  years.
    (d) Any other moneys which are held or owing  by  any  life  insurance
  corporation  on  or  after  July  first,  nineteen  hundred  sixty-seven
  constituting or  representing  refunds  of  any  kind  due  upon  or  in
  connection with life insurance policies payable to any person whose last
  known  address,  according  to the records of the corporation, is within
  this state, which moneys shall have remained  unclaimed  by  the  person
  entitled thereto for three years.
    (e)  Any  moneys held or owing by any life insurance corporation on or
  after July first, nineteen hundred eighty-three upon  or  in  connection
  with an annuity contract payable to any person whose last-known address,
  according to the records of the corporation, is within this state, which
  moneys  shall have remained unclaimed by the person entitled thereto for
  three years.
    (f) If no address of the person or persons appearing to be entitled to
  the unclaimed funds pursuant to (a),  (b),  (c),  (d)  or  (e)  of  this
  subdivision  is  known to such corporation, or if it is not definite and
  certain from the records of such corporation what person is entitled  to
  such  funds,  it  shall  be  presumed that the last-known address of the
  person entitled to such funds is the same as the last-known  address  of
  the  insured  or annuitant according to the records of such corporation.
  Where no address can be ascertained, pursuant to this paragraph, for the
  insured, annuitant or person or persons entitled to the unclaimed funds,
  such person's last-known address shall be presumed  to  be  within  this
  state  if  the  unclaimed  funds  are  held  or  owing by life insurance
  corporation organized under the laws of this state.
    2. Any such abandoned property held  or  owing  by  a  life  insurance
  corporation to which the right to receive the same is established to the
  satisfaction of such corporation shall cease to be deemed abandoned.